Trump’s Fed Firing Raises Concerns About Central Bank Independence

Long-dated US debt securities witnessed a decline on Tuesday following investors’ reaction to President Trump’s attempt to dismiss Federal Reserve governor Lisa Cook, raising concerns about the central bank’s independence. The move, triggered by accusations of mortgage fraud, has sparked discussions about potential political influence over monetary policy decisions. While Trump defended his decision, experts warn that this could undermine the Fed’s autonomy and risk higher borrowing costs for Americans.